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2320 Knob Creek Rd - Waterbrooke Professional Park Shell Space
3,850 - 5,367 SF Office/Medical Condo Units Offered at $606,375 - $1,313,544 Per Unit in Johnson City, TN 37604
Investment Highlights
- Conveniently located near Med Tech Park
- Proximal to vibrant retail corridor on Peoples Street
- Minutes from I-26
Executive Summary
Shell space is available for sale on Knob Creek Road in North Johnson City. Part of Waterbrooke Professional Park Condominiums, the building has great visibility on Knob Creek Road and is located across the street from Med Tech Regional Business Park, part of the City’s medical and professional corridor. An advantage to its location just outside the park is proximity to Franklin Woods Community Hospital, East Tennessee Ambulatory Surgery Center and others, while not being subject to the restrictions of the park. The area between the Subject Property and Johnson City Medical Center is known as the “Med Tech Corridor”. The property is also very close to a vibrant retail and restaurant environment, which includes well-known brands such as Chick-fil-a, Panera, I-Hop, Best Buy, Home Depot, Carrabba’s, Lowe’s, Kohl’s, Planet Fitness, Academy Sports, Buffalo Wild Wings and many more.
Property Facts
| Price | $606,375 - $1,313,544 | Building Class | B |
| Unit Size | 3,850 - 5,367 SF | Floors | 1 |
| No. Units | 2 | Typical Floor Size | 5,367 SF |
| Total Building Size | 9,217 SF | Year Built | 2016 |
| Property Type | Office | Lot Size | 1.01 AC |
| Property Subtype | Medical | Parking Ratio | 5.59/1,000 SF |
| Price | $606,375 - $1,313,544 |
| Unit Size | 3,850 - 5,367 SF |
| No. Units | 2 |
| Total Building Size | 9,217 SF |
| Property Type | Office |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 5,367 SF |
| Year Built | 2016 |
| Lot Size | 1.01 AC |
| Parking Ratio | 5.59/1,000 SF |
2 Units Available
Unit 404-406
| Unit Size | 5,367 SF | Sale Type | Investment |
| Price | $1,313,544 | Cap Rate | 8.50% |
| Price Per SF | $244.74 | NOI | $111,651.24 |
| Condo Use | Office/Medical |
| Unit Size | 5,367 SF |
| Price | $1,313,544 |
| Price Per SF | $244.74 |
| Condo Use | Office/Medical |
| Sale Type | Investment |
| Cap Rate | 8.50% |
| NOI | $111,651.24 |
Sale Notes
This investment opportunity includes Suites 404 & 406 in a single-story multi-tenant office condo building in North Johnson City, TN. Leases are in-place for DaVita Dialysis & Low T Center. The cap rate is 8.5%.
Part of Waterbrooke Professional Park Condominiums, the building has great visibility on Knob Creek Road and is located across the street from Med Tech Regional Business Park, part of the City’s medical and professional corridor. An advantage to its location just outside the park is proximity to Franklin Woods Community Hospital, East Tennessee Ambulatory Surgery Center and others, while not being subject to the restrictions of the park. The area between the Subject Property and Johnson City Medical Center is known as the “Med Tech Corridor”.
The property is also very close to a vibrant retail and restaurant environment, which includes well-known brands such as Chick-fil-a, Panera, I-Hop, Best Buy, Home Depot, Carrabba’s, Lowe’s, Kohl’s, Planet Fitness, Academy Sports, Buffalo Wild Wings and many more.
Unit 400
| Unit Size | 3,850 SF | Condo Use | Office/Medical |
| Price | $606,375 | Sale Type | Owner User |
| Price Per SF | $157.50 |
| Unit Size | 3,850 SF |
| Price | $606,375 |
| Price Per SF | $157.50 |
| Condo Use | Office/Medical |
| Sale Type | Owner User |
Description
Shell space condition
Sale Notes
Space is in shell condition. Other occupants of Waterbrooke Professional Park are DaVita Dialysis, Low T Center, Johnson City Urological Clinic, PC, Colon and Rectal Surgery Consultants, Tri-Cities Pediatric Cardiology, Results Physiotherapy, TrueLight Eye Care, Ear Nose & Throat Associates, Watauga Hearing, Path Lab Group, Reeves Eye Institute and Knob Creek Oral Clinic.
Amenities
- Signage
zoning
| Zoning Code | MS-1 |
| MS-1 |
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2320 Knob Creek Rd - Waterbrooke Professional Park Shell Space
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